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<br />AGREEMENT SUBORDINATING EXISTING
<br />TRUST DEED TO NEW TRUST DEED
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<br />Agreement made the 17' day of Janu 2002: between Thomas J. Dolton and Kristie A.
<br />Dolton, Husband and Wife, of 3103 Briarwood Blvd., Grand Island, Hall County, Nebraska, herein '
<br />referred to as trustor, and The Equitable Building & Loan Association, a Federal Savings Bank, now
<br />known as Equitable Federal Savings Bank of Grand Island, of P. O. Box 160, Grand Island, County of
<br />Hall , State of Nebraska, herein referred to as beneficiary.
<br />The parties recite and declare that:
<br />a. Trustor executed three trust deeds, one on December 13, 1999, and one on December 13,
<br />1999, all in favor of beneficiary, which were recorded on December 27, 1999, and December 27, 1999,
<br />respectively, in the office of the Register of Deeds, of Hall County, State of Nebraska, as Document No.
<br />99- 112177 and 99- 112178, covering the following described property:
<br />LOT TEN (10), BLOCK THREE (3) IN BRENTWOOD SUBDIVISION IN THE CITY OF
<br />GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />Island, Hall county, Nebraska.
<br />b. The above mentioned trust deeds were given as security for Loans, described in such
<br />trust deed, in the amount of One Hundred Fifty Thousand and NO/ 100 - -- ($150,000.00) Dollars, and
<br />Thirteen Thousand and No /100 - -- ($13,000.00) Dollars, executed on December 13, 1999 and December
<br />13, 1999 respectively, by trustor in favor of beneficiary.
<br />c. Trustor desires to obtain a loan in the amount of One Hundred Twenty Thousand and
<br />No /100 ---- ($120,000.00) -- from Equitable Federal Savings Bank of Grand Island, of P.O. Box 160, City
<br />of Grand Island, County of Hall, State of Nebraska, herein referred to as lender, but lender requires that
<br />such loan be secured by a trust deed that will be prior to the trust deeds in favor of beneficiary.
<br />d. Beneficiary is willing to subordinate the lien of the trust deed in their favor insofar as it
<br />encumbers the above- described premises, to the trust deed made in favor of lender in order
<br />that trustor may obtain such loan from lender. Said Deed of Trust securing lender's lien was
<br />recorded on January _ 23, 7002 as document no. 200200894 in the
<br />Office of the Hall County Register of Deeds.
<br />For the reasons set forth above, and in consideration of the mutual covenants and promises of the
<br />parties hereto, trustor and beneficiary covenant and agree as follows:
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